Shift4 Payments price target raised to $75 from $60 at Credit Suisse

Credit Suisse raised the firm’s price target on Shift4 Payments to $75 from $60 and keeps an Outperform rating on the shares. The firm notes Shift4 delivered initial full year 2023 guidance well ahead of Street expectations for both E2E volume, and EBITDA. Further, management struck a tone of cost discipline, with an aim toward keeping headcount relatively flat where possible versus 2022 exit levels. Credit Suisse continues to believe that Shift4 remains well positioned relative to its coverage universe.